The Londonderry sifter. (South Londonderry, Vt.) 1883-19??, 1887-10-27
From the Boston Globe.

The recent consolidation of the Balti-
more & Ohio Telegraph company with
the Western Union has created monop-
oily which ought to alarm the business
world and all that portion of the general
public who use the telegraph
At all the offices of the Baltimore &
Ohio in this city, where for long time
past the rates have been cent a word,
the rates were changed yesterday so as to
require from two to four or five times as
large fee for the transmission of mes
sage as had been previously called for.
Upon inquiry for schedule of prices at
one of the principal offices the reply was ::
"We have no new one printed. Take the
schedule of the Western Union and it will
be all right"
Thus 1t appears that the rates were rails
ed after, the Jay Gould or Western
Union purchase, so suddenly that the pub
lie had not even a days notice of their
new extortion.
This is the latest and sharpest reminder
that the Western Union is the most grasp
ing and au1acious of all the corporations
that in this free land have coined money
from the rich mans thrift and the poor
mans needs. In the wise treatise upon
political economy by Adam Smith, the
fact was established that land and labor
were the only fundamental elements of
wealth; but now, after the laps of CEN
tury, it appears that corporation stocks,
watered by knaves in broadcloth, are a
more immediate means for the agrandize-
ment of the men who know where and
when to direct the water.
Thirty years ago the capital stock of
the Western Union was less than $500
600. Now, after it has issued new stock
to pay for the last purchase, its plant will
be capitalized at not less than $50 200, 900
1t is not known exact y how much of this
is watered stock, but it is safe to assume
that more than half of it is represented by
no actual outlay. And, as appears from
the rise in the rates of telegraphing yes
terday, this great monopoly proposes to
continue paying fat dividends upon S40,-
900, 900 or $50 100000 of fictitious capital,
the certificates for which could be produc-
ed in day at cost of $40 for printing.
1t is well known that telegraph rates as
now established are far in excess Of the
cost of doing the business, and the ques-
ton arises, how much longer will long
suffering public consent to be feeced in
this exorbitant manner.
The application of electricity to the
transmission of intelligence has created
new conditions in the transaction of bus
mess. The use of the telegraph by one
business man makes it's use compulsory
upon all others and, whatever the rate
charged, the service must be had. But it
is not to be expected that our enterpris-
ing and keen-sighted business men will
consent to be robbed for any considerable
time.
1t seems as if the time had come when
the people should be aroused to the sense
of danger to all private as well as public
interests by the absorption of the Balti-
more & Ohio Telegraph Company into
the Western Union under the manipua-
tons of Jay Gould. The United Lines
and the Postal-Line only remain opposi-
| ton concerns, checking to some extent
the extortionate charges of Gould's grand
Combine" But if private enterprise is
not found able and ready to put curb on
this odious monopoly, then the govern
ment must intervene and smash it with a
postal telegraph service with cheap and
uniform rates to all points.